Now thereâs a new solution for compiling fast, accurate audits of homeowners associations, cooperatives, time share properties and other real estate-based organizations. The all-new, CCH ProSystem fx Knowledge Coach â Knowledge-BasedTM Audits, Compilations, and Reviews of Common-Interest Realty Associations (CIRAs) â is designed to help the practitioner efficiently and effectively perform financial statement audits, compilations and reviews of CIRAs in full compliance with U.S. standards. CCH, a Wolters Kluwer business is a leading global provider of tax, accounting and audit information, software and services.

âNavigating the complexities of CIRA audits calls for a specialized solution to ensure accuracy and identify risks,â said Mike Ritchie, CCH Director of Accounting and Audit Product Management. âWith the Knowledge-Based Audit functionality of Knowledge Coach, practitioners can tailor their CIRA documentation to fit each particular engagement and each particular clientâs needs.â

â¢ Correspondence documents that provide sample engagement and representation letters to be used to comply with professional standards and in many other common situations; and

â¢ Audit, compilation, and review (C&R) documents â integral to the overall engagement processes that contain steps and procedures required by professional standards.

Knowledge Coach Power, Flexibility

Knowledge Coach is a comprehensive, dynamic audit workflow solution that helps firms manage an engagement from planning through completion. While Knowledge Coach provides all the risk assessment and workflow features audit firms require, firms can also take advantage of powerful features on their C&R jobs, including:

â¢ Dynamic, real time diagnostics;

â¢ Extensive library of workpapers and tools;

â¢ Integrated and efficient information flow between workpapers; and

â¢ Drill downs, guidance and tips built into the programs.

Knowledge Coach: Award-winning Solution

In June, Knowledge Coach was honored with one of the tax and accounting professionâs most prestigious awards. The solution earned the 2011 Tax & Accounting Technology Innovation Award, sponsored by The CPA Practice Advisor. The annual awards recognize innovative developments in technologies that benefit the tax and accounting profession, as well as significant advancements in existing technologies.

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